The coronavirus pandemic is narrowing the avenues open to biotechs for financing their endeavors, according to some industry veterans. “I think that fear of losing out has pretty much gone out the window right now,” said Equillium (NASDAQ: [[ticker:EQ]]) CEO Bruce Steel in a phone interview with Xconomy, speaking generally of investor appetite. “I think … Continue reading “Investors Shaken by Coronavirus Sow Seeds of M&A, Financing Slowdown”
FDA Rejects Boehringer Ingelheim, Eli Lilly Drug for Type 1 Diabetes
A type 2 diabetes drug marketed by Boehringer Ingelheim and Eli Lilly has fallen short of a bid to expand the medicine’s approval to patients who have type 1 diabetes. The FDA on Friday rejected the application for the drug, empagliflozin (Jardiance), for use in addition to insulin as a treatment for type 1 diabetes … Continue reading “FDA Rejects Boehringer Ingelheim, Eli Lilly Drug for Type 1 Diabetes”
Keros Outlines IPO Plans Amid Markets Rocked by Coronavirus Pandemic
Keros Therapeutics, a biotech which raised more than $50 million this month in venture capital, is now looking to tap the public markets for additional cash amid a time of historic tumult. The Lexington, MA-based company, is a clinical-stage biotech that aims to develop new treatments for patients with blood and musculoskeletal disorders by developing … Continue reading “Keros Outlines IPO Plans Amid Markets Rocked by Coronavirus Pandemic”
GSK Veteran Paul Wren Joins Escape Bio as Chief Scientific Officer
Escape Bio, a biotech developing therapies for neurodegenerative disorders, has appointed Paul Wren to serve as its chief scientific officer. Wren was most recently senior director of neuroscience discovery at GlaxoSmithKline (NYSE: [[ticker:GSK]]). His experience also includes positions at Pfizer (NYSE: [[ticker:PFE]]) and Novartis (NYSE: [[ticker:NVS]]) subsidiary Sandoz. The most advanced program from San Francisco-based … Continue reading “GSK Veteran Paul Wren Joins Escape Bio as Chief Scientific Officer”
Emulate Taps PerkinElmer’s Corbett as CEO, Gets Cash for Commercial Push
“Organ-on-a-chip” startup Emulate has appointed Jim Corbett to serve as its new CEO. Corbett joins the Boston-based company from PerkinElmer, where he was executive vice president and president of discovery & analytical solutions. At Emulate, he succeeds founding CEO James Coon. Emulate has developed tiny chips lined with human cells that can be used to … Continue reading “Emulate Taps PerkinElmer’s Corbett as CEO, Gets Cash for Commercial Push”
UCSD, 5 Diagnostic Makers Partner to Ramp COVID-19 Testing Capacity
A group of scientists and physicians at UC San Diego Health and the UCSD School of Medicine has arranged a partnership with five diagnostics markers that it says will bring the health system’s capacity to test for coronavirus to as many as 1,500 tests daily sometime in early April. Amid a lack of available tests … Continue reading “UCSD, 5 Diagnostic Makers Partner to Ramp COVID-19 Testing Capacity”
Bio Roundup: Coronavirus Diagnostics, Therapeutics, Vaccines & More
The past week brought a sea change in many of our daily lives as the impact of the continued spread of the novel coronavirus altered how we work and play as communities around the world attempt to slow its spread. Xconomy, as always, is focused on the stories coming out of the life sciences community. … Continue reading “Bio Roundup: Coronavirus Diagnostics, Therapeutics, Vaccines & More”
Eureka Partners With Lyell to Tackle Tricky Solid Tumor Cell Therapies
Eureka Therapeutics, which has been developing methods to facilitate the development of cell therapies that can treat solid cancers, has raised $45 million to prove out its technologies in the clinic. To enhance its chances of success, the Emeryville, CA-based company has struck an agreement to work with Lyell Immunopharma, another San Francisco Bay Area … Continue reading “Eureka Partners With Lyell to Tackle Tricky Solid Tumor Cell Therapies”
As the Commercial Real Estate Market Slumps, Look for a More Tenant-Friendly Future
The following sponsored content was submitted by commercial real estate brokerage firm Hughes Marino: The story of the “canary in the coal mine” is an advanced warning of danger. The metaphor originates from when miners used to carry caged canaries while at work; if the air in the mine became toxic, the canary would die … Continue reading “As the Commercial Real Estate Market Slumps, Look for a More Tenant-Friendly Future”
How San Diego Biotech Leaders Are Adapting to Coronavirus Concerns
Three hundred Takeda employees from the Japanese pharma giant’s California research center have been working from home for 10 days straight. Neurocrine Biosciences, one of the few commercial-stage biotechs in town, is working to ensure the animals housed in its vivarium are appropriately minded. Ciara Kennedy, CEO of clinical-stage antifungal therapy developer Amplyx, is facing … Continue reading “How San Diego Biotech Leaders Are Adapting to Coronavirus Concerns”
Fears Of Recession Mount As Coronavirus Declared A Pandemic
Investor sentiment still backing growth for pharma and biotech sectors, but the length and severity of COVID-19’s impact globally has yet to be seen. Confirmation that the coronavirus has reached pandemic status on 11 March has darkened the mood worldwide, raising fears about the rapid spread of the disease outside China, and increasing chances of … Continue reading “Fears Of Recession Mount As Coronavirus Declared A Pandemic”
Morphic Appoints Acceleron’s Peter Linde as Its Chief Medical Officer
Morphic Therapeutic (NASDAQ: [[ticker:MORF]]) on Tuesday named Peter Linde as its chief medical officer. Linde was most recently vice president of medical research at Acceleron Pharma (NASDAQ: [[ticker:XLRN]]), where he oversaw the design and execution of clinical trials including late-stage development work on luspatercept, a drug the FDA approved last year for patients with the … Continue reading “Morphic Appoints Acceleron’s Peter Linde as Its Chief Medical Officer”
AbCellera’s Coronavirus “Neutralizing” Antibody Leads Enter Screening
Vancouver-based biotech AbCellera Biologics has identified more than 500 antibodies that could potentially be turned into medicines to treat the SARS-CoV-2 novel coronavirus. Now scientists at the National Institutes of Health (NIH), with which the company has been working to prepare medical countermeasures for pandemic outbreaks, are testing the candidates to determine which are most … Continue reading “AbCellera’s Coronavirus “Neutralizing” Antibody Leads Enter Screening”
Qiagen Juices RNA Extraction Kit Capacity to Feed Coronavirus Test Needs
Dutch molecular diagnostics company Qiagen said Tuesday it would “dramatically” ramp up production of the components needed for the RNA extraction kits used to detect the novel coronavirus in a patient sample. Isolating genetic material from a biological sample is a key step in the testing process, which has not been widespread in the US … Continue reading “Qiagen Juices RNA Extraction Kit Capacity to Feed Coronavirus Test Needs”
The Benefits and Impact of Later In-Licensing Deals for Biopharma
Biopharma firms are in-licensing candidates later according to an industry expert, who says the trend is impacting the contract development and manufacturing sector. In-licensing—the practice of paying for rights to develop and commercialize a product discovered by another company—is a widely used strategy in the biopharmaceutical industry. According to a recent report in Nature, the … Continue reading “The Benefits and Impact of Later In-Licensing Deals for Biopharma”
Novo Nordisk Pauses 3 Clinical Trials Testing Hemophilia Therapy
On Monday Danish company Novo Nordisk announced it would stop treating patients enrolled in clinical trials evaluating an investigational hemophilia drug it developed after three of those receiving the drug reported “thrombotic events.” Hemophilia, an inherited blood disorder, is characterized by low levels of proteins called clotting factors, which help patients’ blood to clot appropriately. … Continue reading “Novo Nordisk Pauses 3 Clinical Trials Testing Hemophilia Therapy”
UC San Diego Health Develops COVID-19 Test, Begins Testing Patients
The UC San Diego Health System has developed a diagnostic test that can determine whether a patient has contracted the novel coronavirus in about eight hours. Developed under guidance that the FDA published roughly two weeks ago amid the severe shortage of tests for the viral illness, COVID-19, UCSD Health developed and validated an in-house … Continue reading “UC San Diego Health Develops COVID-19 Test, Begins Testing Patients”
Lax Approval Requirements Yield Blockbusters That Don’t Work
With the backdrop of Biogen’s BLA filing, and the FDA’s expected response for aducanumab in Alzheimer’s disease in 2020, the link between efficacy and approval seems to have broken. Conditional FDA approvals can’t help when the conditions are ignored. I met the management of InterMune almost 20 years ago when it was a mid-sized US biotechnology company … Continue reading “Lax Approval Requirements Yield Blockbusters That Don’t Work”
Bio Roundup: Pandemic Declared, Rubius Restarts, Kymera’s Cash & More
The financial markets are tumbling, event cancellations are mounting, and sports leagues are suspending their seasons. March Madness is in full swing but not in any way that people wanted or expected. The World Health Organization this week declared that the COVID-19 outbreak was serious enough to classify as pandemic. The toll on public health … Continue reading “Bio Roundup: Pandemic Declared, Rubius Restarts, Kymera’s Cash & More”
Repertoire Immune Taps Torque Top Exec, Biogen Vet John Cox as CEO
Repertoire Immune Medicines, a Cambridge, MA-based biotech Flagship Pioneering formed by combining its companies Cogen Immune Medicines and Torque Therapeutics, named John Cox its CEO. Cox has been Torque’s chief executive since late 2019. Previously Cox was the CEO of Bioverativ (NASDAQ: [[ticker:BIIV]]), which he spun out from Biogen (NASDAQ: [[ticker:BIIB]]) in 2016 and oversaw … Continue reading “Repertoire Immune Taps Torque Top Exec, Biogen Vet John Cox as CEO”
CureVac Founder Ingmar Hoerr to Replace CEO Dan Menichella
German biotech CureVac, a developer of messenger RNA-based drugs, said company founder Ingmar Hoerr would take over for CEO Dan Menichella. Menichella joined the company in 2017 to run its US operations, which are in Boston. He took over the CEO role from Hoerr in 2018. In its statement announcing the transition, CureVac credited Menichella … Continue reading “CureVac Founder Ingmar Hoerr to Replace CEO Dan Menichella”
Rubius Drops Rare Diseases, Turns to Cancer and Autoimmune Disorders
Rubius Therapeutics is dropping its lead drug candidate—and its focus on rare diseases—in favor of earlier-stage cell therapies that it has been developing for oncology and autoimmune disorders. The Cambridge, MA-based company disclosed the strategy shift Thursday in its report of fourth quarter and full year 2019 financial results. After the announcement, shares of Rubius … Continue reading “Rubius Drops Rare Diseases, Turns to Cancer and Autoimmune Disorders”
G1’s Demaree Jumps to Karyopharm for Chief Commercial Officer Job
John Demaree is joining Karyopharm Therapeutics (NASDAQ: [[ticker:KPTI]]) as its chief commercial officer, the same position he held most recently at G1 Therapeutics (NASDAQ: [[ticker:GTHX]]). His experience also includes positions at Astellas Pharma, Abbott Laboratories (NYSE: [[ticker:ABT]]), Novartis (NYSE: [[ticker:NVS]]), and Eli Lilly (NYSE: [[ticker:LLY]]). Newton, MA-based Karyopharm recently reported positive results from a Phase … Continue reading “G1’s Demaree Jumps to Karyopharm for Chief Commercial Officer Job”
Pfizer’s Gupta Joins G1 Therapeutics as Chief Commercial Officer
G1 Therapeutics (NASDAQ: [[ticker:GTHX]]) has appointed Soma Gupta to serve as its chief commercial officer. She was most recently vice president of global marketing for rare disease at Pfizer (NYSE: [[ticker:PFE]]). Durham, NC-based G1 has submitted a rolling application for FDA approval of its lead drug, trilacilib, as a treatment for patients with small cell … Continue reading “Pfizer’s Gupta Joins G1 Therapeutics as Chief Commercial Officer”
Harbour BioMed Tacks on $75M to Advance Broad Biologics Pipeline
A biotech born out of an antibody platform company has added another $75 million to its investment haul, money it says will allow it to advance its clinical-stage compounds and continue to build its portfolio of earlier-stage therapeutics. Shanghai-based Harbour BioMed emerged in 2016 after acquiring technology developed by Harbour Antibodies, a Dutch company that … Continue reading “Harbour BioMed Tacks on $75M to Advance Broad Biologics Pipeline”
Imara Dives Into Coronavirus-Churned Financial Waters With a $75M IPO
The global economy is in tumult as the new coronavirus sparks financial contagion but drug developer Imara pressed ahead with its IPO anyway, raising $75.2 million in its stock market debut. Late Wednesday, Imara offered 4.7 million shares for $16 apiece, which was the low end of its projected price range. The Boston-based company had … Continue reading “Imara Dives Into Coronavirus-Churned Financial Waters With a $75M IPO”
Kymera Closes $102M Round to Bring Protein-Busting Drugs to the Clinic
Reuse and recycle is more than an environmental slogan. It’s also a succinct description of how cells deal with old or damaged proteins. Kymera Therapeutics is developing drugs that use this cyclical cellular process to treat disease, and it has raised $102 million to move into clinical testing next year. The Series C round of … Continue reading “Kymera Closes $102M Round to Bring Protein-Busting Drugs to the Clinic”
Xcelerating Life Sciences San Diego Will Be Delivered Digitally
At Xconomy, we are here to serve the global biotech community and help biotech and pharma companies connect, do business, and find investment opportunities. We take this role seriously, and over the last week we have been engaged with many of you on how to deliver the value that Xcelerating Life Sciences San Diego provides … Continue reading “Xcelerating Life Sciences San Diego Will Be Delivered Digitally”
With Bristol and Otsuka on Board, LSP Raises $620M EU Life Sciences Fund
Healthcare investment firm LSP has raised what it says is the largest ever European fund focused on life sciences ventures. The Amsterdam, Netherlands-headquartered firm aimed to bring in $450 million in the final fundraiser for its LSP 6 life science private equity fund but has ended up with $620 million (€550 million) to invest in … Continue reading “With Bristol and Otsuka on Board, LSP Raises $620M EU Life Sciences Fund”
Silverback Therapeutics Adds $79M to Test HER2+ Tumor-Targeting Drug
In the four years that Silverback Therapeutics has been developing cancer immunotherapies that avoid dangerous side effects, the biotech has mostly kept a low profile. Now the company has $78.5 million in cash to advance that research, and it’s starting to open up about its work. The Series B round of funding brings the Seattle-based … Continue reading “Silverback Therapeutics Adds $79M to Test HER2+ Tumor-Targeting Drug”
Genmab Taps Bristol Myers Veteran Mancini as Chief Operating Officer
Genmab (NASDAQ: [[ticker:GMAB]]) has appointed Anthony Mancini to serve as executive vice president and chief operating officer. Mancini is joining Copenhagen, Denmark-based Genmab from Bristol Myers Squibb (NYSE: [[ticker:BMY]]), where he is senior vice president and head of US innovative medicines. When he starts at Genmab on March 23, he will be based in New … Continue reading “Genmab Taps Bristol Myers Veteran Mancini as Chief Operating Officer”
NGM Bio’s Trombley to Step Down to Become CEO of Unnamed Company
Aetna Wun Trombley, president and chief operating officer of NGM Biopharmaceuticals (NASDAQ: [[ticker:NGM]]), is leaving to become chief executive at a privately held company, the South San Francisco biotech announced Monday. The name of the company Trombley is joining was not disclosed. Her last day at NGM will be Friday. Trombley started at NGM in … Continue reading “NGM Bio’s Trombley to Step Down to Become CEO of Unnamed Company”
Acceleron Drops Drug for Rare Muscle Disease After Mixed Phase 2 Data
An experimental Acceleron Pharma drug for rare neuromuscular diseases has failed to distance itself from a placebo in a mid-stage study, spelling the end for that program. Acceleron (NASDAQ: [[ticker:XLRN]]) drug ACE-083 was being developed as a treatment for Charcot-Marie-Tooth disease, a hereditary nerve disorder that leads to the progressive loss of muscle function. The … Continue reading “Acceleron Drops Drug for Rare Muscle Disease After Mixed Phase 2 Data”
Kala to Take Another Shot at FDA Approval With New Dry Eye Drug Data
A Kala Pharmaceuticals dry eye disease drug that was rejected by the FDA is now being readied for another regulatory filing based on new data. Last August the FDA rejected a Kala (NASDAQ: [[ticker:KALA]]) product meant to temporarily relieve signs and symptoms of dry eye disease. On Monday the Watertown, MA-based biopharma announced preliminary results … Continue reading “Kala to Take Another Shot at FDA Approval With New Dry Eye Drug Data”
Cushing’s Disease Drug That Novartis Sold to Recordati Nabs FDA Nod
A Cushing’s disease drug whose rights Novartis sold to Italy-based Recordati last year now has FDA approval. Cushing’s disease is a rare disorder in which the adrenal glands make too much of a hormone called cortisol. The Novartis (NYSE: [[ticker:NVS]]) drug, osilodrostat (Isturisa), is intended to block an enzyme key to cortisol production. The FDA … Continue reading “Cushing’s Disease Drug That Novartis Sold to Recordati Nabs FDA Nod”
Zentalis Leads a Trio of Biotechs Charting a Course for Wall Street
Cell therapies and antibody drugs grab much of the attention and investment in cancer drug development but the scientists at Zentalis Pharmaceuticals contend that there’s a place for small molecules too. Now the biotech is preparing for an initial public stock offering to advance its pipeline, which includes a lead candidate in testing in combination … Continue reading “Zentalis Leads a Trio of Biotechs Charting a Course for Wall Street”
Senti Biosciences Appoints Jose Iglesias as Its Chief Medical Officer
Senti Biosciences named Jose Iglesias as its chief medical officer, tasked with overseeing the development of its cell and gene therapy product candidates for the treatment of solid and liquid tumors. Iglesias’s previous experience includes CMO and clinical development leadership roles at companies including Boston Biomedical, Apobiologix, Biothera Pharmaceuticals, Bionomics, Celgene, Abraxis BioScience, and Eli … Continue reading “Senti Biosciences Appoints Jose Iglesias as Its Chief Medical Officer”
Bio Roundup: Gilead’s $4.9B Deal, COVID-19 Collabs, IPO Plans & More
Last month, Gilead Sciences CEO Daniel O’Day announced plans to introduce 10 “transformative medicines” over the next 10 years. Acquisitions would help meet that ambitious goal, and this week Gilead announced one of them: a nearly $5 billion deal for cancer immunotherapy developer Forty Seven. Forty Seven’s lead CD47-blocking drug—the company is named after the … Continue reading “Bio Roundup: Gilead’s $4.9B Deal, COVID-19 Collabs, IPO Plans & More”
Roche Trial of Ionis Huntington’s Disease Drug Halted After Side Effects
A 20-patient Phase 1 study of an RNA drug discovered by Ionis Pharmaceuticals that is being tested as a treatment for Huntington’s disease by Roche was suspended after two reports of infections related to a device used to take samples of cerebral spinal fluid during the trial. The suspension doesn’t appear to be related to … Continue reading “Roche Trial of Ionis Huntington’s Disease Drug Halted After Side Effects”
MacroGenics Chief Medical Officer Jon Wigginton Announces Resignation
MacroGenics (NASDAQ: [[ticker:MGNX]]) says its chief medical officer, Jon Wigginton, will leave the Rockville, MD-based company as of March 27. The company said Wigginton, who joined MacroGenics in 2003, plans to resign “to pursue a new opportunity.” As MacroGenics, which is development antibody drugs for cancer, searches for a new CMO, its senior vice president … Continue reading “MacroGenics Chief Medical Officer Jon Wigginton Announces Resignation”
PsiOxus Therapeutics Appoints Tom Lillie as Chief Medical Officer
Gene therapy developer PsiOxus Therapeutics on Thursday announced it has appointed Tom Lillie as its chief medical officer. Lillie previously held senior oncology roles at Amgen (NASDAQ: [[ticker:AMGN]]) and MSD (NYSE: [[ticker:MRK]]) (as Merck is known outside of the US and Canada). The Oxford, England-based company also said it moved its third gene therapy for … Continue reading “PsiOxus Therapeutics Appoints Tom Lillie as Chief Medical Officer”
Culture Biosciences Adds $15M for New Software, Bioreactor Expansion
Culture Biosciences, a contract development and manufacturing organization, has added new funding to increase bioreactor capacity and create additional monitoring software. The San Francisco startup announced the completion of a $15 million Series A financing round this week, bringing aboard fresh cash from new venture capital backers in addition to earlier investors. Culture Biosciences said … Continue reading “Culture Biosciences Adds $15M for New Software, Bioreactor Expansion”
Melinta’s Chapter 11 Auction Draws No Bids, Deerfield to Get Assets
The assets of Melinta Therapeutics will go to creditor Deerfield Management after no bidders for the company emerged, the antibiotics developer announced Wednesday. Under a court-approved Chapter 11 bankruptcy plan, any bids for the company were due by March 2. An auction was scheduled for March 6 in the event any bids were submitted. But … Continue reading “Melinta’s Chapter 11 Auction Draws No Bids, Deerfield to Get Assets”
Amunix Raises $73M to Bring Safer T Cell Engagers to Solid Tumors
Cell therapies have helped treat some blood cancers, but toxic side effects are one limitation preventing their use in solid tumors. Amunix has, since its 2006 launch, licensed to biopharmas technology developed by company co-founder Volker Schellenberger to extend the half-life of some drugs while avoiding triggering an unwanted immune response. Now that technology has … Continue reading “Amunix Raises $73M to Bring Safer T Cell Engagers to Solid Tumors”
AMAG Pharma Chief Medical Officer Julie Krop to Step Down
Julie Krop, chief medical officer of AMAG Pharmaceuticals (NASDAQ: [[ticker:AMAG]]) since 2015, is leaving at the end of the month, the Waltham, MA-based company announced Wednesday. Krop has agreed to provide “support and transition services” through March 31, according to a securities filing. No reason was given for Krop’s departure, but it follows the January … Continue reading “AMAG Pharma Chief Medical Officer Julie Krop to Step Down”
BlueRock Hires Former Unum Exec Ettenberg as Chief Scientific Officer
BlueRock Therapeutics has appointed Seth Ettenberg to serve as its chief scientific officer. He comes to the Cambridge, MA-based cell and gene therapy developer from Unum Therapeutics (NASDAQ: [[ticker:UNUM]]), where he was chief scientific officer from the company’s 2014 founding until a corporate restructuring earlier this week. BlueRock, which was acquired by Bayer last year … Continue reading “BlueRock Hires Former Unum Exec Ettenberg as Chief Scientific Officer”
Court Rules More Trial Data Must Be Posted On ClinicalTrials.gov
Plaintiff Peter Lurie, former US FDA associate commissioner, expects results of hundreds of clinical trials of approved drugs will become available under ruling against HHS; co-plaintiff sought eteplirsen study data. The results of potentially hundreds of clinical trials of approved drugs and medical devices will have to be published on the ClinicalTrials.gov website in the … Continue reading “Court Rules More Trial Data Must Be Posted On ClinicalTrials.gov”
Novartis Leads $100M Round for Fibrosis-Focused Pliant Therapeutics
When Novartis signed on as a partner to Pliant Therapeutics last fall, it also agreed to eventually take an equity stake in the smaller biotech. The Swiss pharmaceutical giant made good on that commitment Tuesday, leading a $100 million investment. Besides Novartis, the Series C round of funding adds so-called crossover investors, firms that invest … Continue reading “Novartis Leads $100M Round for Fibrosis-Focused Pliant Therapeutics”
Sanofi Wins FDA Nod for Combo Therapy in Multiple Myeloma
The FDA on Monday approved a Sanofi antibody drug for adults with multiple myeloma whose disease hasn’t responded to at least two prior therapies, including the chemotherapy lenalidomide and a proteasome inhibitor. The drug, isatuximab-irfc (Sarclisa), was OK’d for patients in combination with pomalidomide, a chemotherapy, and dexamethasone, a corticosteroid (pom-dex). The Sanofi (NYSE: [[ticker:SNY]]) … Continue reading “Sanofi Wins FDA Nod for Combo Therapy in Multiple Myeloma”
Biogen’s Anirvan Ghosh to Succeed Keith Leonard as Unity Bio CEO
Unity Biotechnology (NASDAQ: [[ticker:UBX]]), a company developing drugs to treat diseases of aging, has appointed Anirvan Ghosh to serve as its CEO. He will succeed Keith Leonard, who the company says is leaving his executive position due to personal circumstances but will remain chairman of the board of directors. Ghosh is coming to San Francisco-based Unity … Continue reading “Biogen’s Anirvan Ghosh to Succeed Keith Leonard as Unity Bio CEO”